Exploration Update Drilling Results on E77/1209 (Mt Manning North)
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/11/11 -- Salmon River Resources Ltd. ("Salmon River" or the "Company") (TSX VENTURE: SAL) is pleased to provide an update on its now expanding exploration activities at its high potential iron ore prospects in the Yilgarn region of Western Australia: E30/397 (Barlee; 99km2), E77/1209 (Mt. Manning North; 89.5km2) and E77/1208 (Mt. Manning South; 208.5km2). Refer to Figures 1 and 2 below. The Company is also pleased to provide assays for its initial 8-hole drill programme on Mt. Manning North. The following key points should be noted:
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E77/1209 (Mt Manning North) Drill Programme
As previously reported in the Company's announcement of 2 August 2011, an initial drill programme at Mt. Manning North has been completed consisting of eight reverse circulation holes with a combined total drilling of 1,884m (Figure 3). These holes tested high priority BIF targets at E77/1209 identified by detailed geological mapping, ground magnetic surveying and modelling undertaken for Salmon River. This update should be read in conjunction with the previous update of 1 September 2011 which describes the tenement, geology and drill hole programme.
To view Figure 3, please visit the following link: .
Reverse circulation drilling commenced on 24 June 2011 and was completed on 31 July 2011. Down-hole geophysical surveys on all holes were also completed. The drill hole details for the programme are summarized in Table 1 below.
Assays have now been received from Genalysis-Intertek Laboratory Services for all eight drill holes. Table 4 at the end of this update outlines the drill hole summary for all of the eight (8) completed RC drill holes and shows the significant averaged drill intersections (i.e. continuous greater than or equal to 2m length along the drill hole) with an applied XRF assay cut-off grade equal or greater than 20% Fe. Table 2 below summarizes the Cumulative Significant RC Drill Hole Intersections (i.e. cumulative drill widths of all significant averaged drill intersections at different depths along each drill hole). The averaged XRF assay results for the major iron ore chemistries (i.e. Alumina (Al2O3), Phosphorous (P) and Silica (SiO2)) are also shown.
The results to date from this drill programme has tested the magnetite iron ore mineralisation associated with a magnetic BIF unit that is projected to be continuous along at least 2.4km of the 2.8km portion of the approximately 20km strike of BIF system present within E77/1209 (Mt Manning North). The results to date are consistent with geophysical data that indicates the projected potential continuity of the BIF structures along at least 2.4km of the approximately 2.8km of strike drilled and, by extension, the potential for continuity of the geological structure along the entire 20km of strike indicated by the previous mapping and geophysics on Mt. Manning North. The data to date indicates that the BIF unit drill-tested has variable thickness along its 2.8km of strike as a consequence of interpreted structural and lithological influences.
Minecomp Surveyors have now completed the collar surveys of all completed drill holes and the accompanying downhole geophysics reference pegs. This information has been passed to Surtron Technologies and they have processed all acquired data. The Company expects to shortly be in a position to produce a small initial NI 43-101 compliant mineral resource on this small portion of the property.
The Company has also received the DTR test results from Amdel-Bureau Veritas in Perth for the initial eighteen (18) 2m-composited samples from MMP001. The DTR results highlight averaged concentrate mass recovery of 32.84% and averaged XRF % concentrate grades as follows:
The Davis Tube Recovery (DTR) metallurgical test work simulates the likely performance of magnetite ores being processed through a typical magnetic separation process in a concentration plant. After fine crushing or pulverising the sample is passed by a magnet and the magnetic fraction is then assayed and weighed. Typically a mass recovery of greater than 30% with iron grades around 70% and silica below 5% is considered desirable (Radar Iron, 2011).
The grinding procedure prior to the DTR test work starts with the taking of a 150 g split of the 'as received sample' and this was pulverised for 150 sec in a ring pulveriser. The sample was then wet screened at 45 micron. The oversize material was re-pulverised at a rate of 4 sec per 5 g of mass, then re-sized and re-pulverised until less than 5 g oversize remained. The final sample was then homogenised and samples split for head assay and DTR test work. This gives a P98 (i.e. passing 98%) of 45 (micron) and a P80 of approx. 25 micron.
XRF assay results were also received for the rock chips samples that were taken at previously unmapped hematite outcrops within the recently-identified Philomena Prospect, which is located about 400m north-west of MMP001 (Figures 4 and 5). All seven (7) rock chips samples taken returned Fe assays of greater than 30%, with four (4) samples having assays greater than 50% Fe. The highest Fe assay returned was 64.46%. Refer to Table 3 below for more details. Geological mapping and sampling continued at E77/1209 (Mt Manning North), with the objective of identifying additional hematite-type ore mineralization.
To view Figure 4 and Figure 5, please visit the following link: .
E77/1208 (Mt Manning South)
As noted in the previous Exploration Update, a recent geomorphological appraisal report for Mt Manning South has identified DSO-style hematite-geothite enrichment within the predominantly magnetite-rich banded iron formations. The geomorphological appraisal report further mentions that the enrichment is both in selected BIF horizons or distributed in patches in the sequence. The hematite generally appears to be of high grade and entire horizons are usually enriched rather than the partial enrichment that is common at Macarthur Minerals nearby Lake Giles project. The enrichment appears to have originated mainly as a result of hydrothermal activity (hypogene processes). The hematite enrichment, particularly on the western ridge of the 'J-Hook' is high grade and appears to comprise a considerable resource (Figures 6 to 8).
To view Figure 6 and Figure 7, please visit the following link: .
To view Figure 8, please visit the following link: .
Salmon River has now received the final approval from the Department of Environment and Conservation for its Conservation Management Plan (CMP) for E77/1208 (Mt Manning South). The Department of Mines and Petroleum is now processing the Program of Works (POW) application. Salmon River anticipates the POW will be approved in the coming week. Plans have been finalized for an initial short programme of helicopter-assisted diamond drilling at E77/1208 involving two 300-meter deep NQ-diameter core holes (Figures 6 to 8 ). The drill sites are contained with the prospective "hook area" where structural thickening of BIF units are interpreted and hematite+/- magnetite iron mineralisation are present and confirmed by the magnetic modelling The proposed drill holes have been located to test sub-surface extension of outcropping hematite+/-magnetite in front of the proposed diamond drill holes.
A helimag/radiometrics survey has been completed for the entire E77/1208 (Mt Manning South) and the northern half of E30/397 (Barlee). This high-resolution magnetics survey will aid in the mapping and possible discrimination between the hematite and magnetite types of iron ore mineralized zones and help in the selection of other appropriate drilling targets within the tenement. Aerosystems and Core Geophysics continued with the geophysical processing and interpretation of the newly-acquired helimag/radiometrics data for the entire E77/1208 tenement and the northern half of E30/397 (Barlee). Some initial processed data for E77/1208 have been received from Core Geophysics and these are currently being reviewed.
Also, within Mt Manning South, eroding Channel Iron Deposits (CID) have been identified in the valley floor between the two steeply dipping limbs of a main syncline. At least four westward-flowing palaeo-channels containing CID are located in the main valley. The channels are thought to represent parts of a Tertiary palaeo-drainage system. CID channels are present in the valley enclosed by the 'J' (Figure 6). The iron grade of the exposed material appears to be high. While the outcropping and eroding parts of the old drainages are relatively small, larger parts may lie below aeolian cover in the valley.
Palaeo-debris slope deposits cemented by iron and siliceous materials, known as 'Detrital Iron Deposits' (DID) have also formed on the flanks of the BIF ridges at Mt Manning South. The DID's generally appear to have a low iron content. The DID's are preserved only in small wedge-shaped deposits resting on the flanks of the main ridges. A 50kg DID sample was taken at the western flank and base of the "J-Hook" area and an initial 2kg sample has been sent to FeCon Minerals in Perth for orientation-type iron ore beneficiation testing involving gravity and jig size fraction separation and mineral recovery and characterisation.
"We are pleased with the results to date from this initial drill programme on the potentially massive magnetite deposit on Mt Manning North. We look forward to the preparation of a small initial NI 43-101 compliant resource later this year covering only a very small portion of what we believe has the potential to be a world-class iron ore deposit. We are very excited about the commencement of initial drilling into the apparent massive hematite outcrops at Mt. Manning South.," commented Doug Betts, Salmon River Chair.
Salmon River will provide additional exploration updates as results become available.
Qualified Person
Mr. James Llorca, BSc (Geology), a member of AIG, the AusIMM, and a consultant geologist, is a Qualified Person as defined in National Instrument 43-101 and provides specialist technical advice and input for exploration on Salmon River's iron ore projects in Western Australia.
Mr. Hector Galam, B.App.Sc. (Hons) (App. Geology), M.Sc. (Geology), a member of the AusIMM, is the Exploration Manager, responsible for the geological programmes on all the EL's referenced in this document.
Salmon River has established and maintains a comprehensive quality assurance-quality control (QA/QC) program.
About Salmon River Resources Limited (TSX VENTURE: SAL)
Salmon River Resources Limited is a mineral exploration company engaged in the exploration for and development of commercial deposits of iron ore in Western Australia. It holds an exclusive option to acquire the Mt. Manning project located in the Yilgarn region of Western Australia, approximately 210 kilometres northwest of Kalgoorlie. Salmon River believes the project has the potential to be a world-class iron ore deposit with early development potential. The shares of Salmon River are listed on the TSX Venture Exchange under the symbol "SAL". For further information see our website at .
On behalf of the Board of Directors of SALMON RIVER RESOURCES LTD.
J.G. Stewart, President
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulatory authorities. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Salmon River Resources Ltd.
Jim Stewart
President
+1 (604) 633.4290 (Vancouver)
Salmon River Resources Ltd.
Garry Stein
Director
+852 9858.0029 (Hong Kong)
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Datum: 12.10.2011 - 01:20 Uhr
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